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SpanishA Daily Outlook: BTC/USD; March 17, 2022
Top 5 Headlines on Digital Currency:
- Bitcoin retreated from the highest levels of the day after the Federal Reserve signaled additional tightening while increasing interest rates, making risk assets potentially less attractive to investors – Investing.
- Cryptocurrency trading volumes are in decline in Russia after traditional payment platforms suspend their operations as the wealthy turn to Dubai for a haven – Investing.
- PayPal CEO restated his positive stance on crypto. Dan Schulman believes that the intersection between digital assets, CBDCs, stablecoins, and digital wallets could redefine the financial world – Investing.
- The EU parliament voted to veto a suggested ban on Proof of Work cryptocurrencies, a decision that would have obstructed EU member states from mining Bitcoin and similar cryptocurrencies – Investing.
- Crypto exchanges FTX and Kuna and staking platform Everstake have partnered with Ukrainian government officials to launch a donation website for users wishing to send crypto to help the country and its people – Investing.
Technical View:
- The BTC trades marginally lower on Thursday and slips back below $41,000 mark.
- The pair made intraday high at $41,497 and low at $40,653 mark.
- Today a day chart is down and H1 chart with triple EMA suggests up trend for the time being.
- A sustained close above $41,550 on H1 chart requires for the upside rally.
- Alternatively, a consistent close below $40,100 on H1 chart requires for the downside rally.
| SUPPORTS | RESISTANCES |
| $40,100 | $41,550 |
| $39,500 | $41,900 |
| $39,050 | $42,300 |
| $38,720 | $42,650 |
| $38,200 | $43,100 |
Take a look and do trade wisely!
Good Luck
TP Global FX Research Team
With a decade of Forex Market insight, TP Global FX Research Team delivers you the Market Insight that boosts your Trading Skills